5 Trade Ideas for Monday: Ally, Bristol-Myers, Comerica, eBay and JB Hunt

• Posted by Greg Harmon
• on March 31st, 2024

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Ally Financial, Ticker: $ALLY

Ally Financial, $ALLY, comes into the week at resistance. The RSI is in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

Bristol-Myers Squibb, Ticker: $BMY

Bristol-Myers Squibb, $BMY, comes into the week at resistance. It has a RSI in the bullish zone with the MACD crossing up and positive. Look for a push over resistance to participate…..

Comerica, Ticker: $CMA

Comerica, $CMA, comes into the week moving higher. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

eBay, Ticker: $EBAY

eBay, $EBAY, comes into the week breaking resistance. It has a RSI is the bullish zone with the MACD crossed down but positive. Look for continuation to participate…..

JB Hunt Transport Services, Ticker: $JBHT

JB Hunt Transport Services, $JBHT, comes into the week approaching resistance. It has a RSI at the midline with the MACD negative and crossing up. Look for a push over resistance to participate…..

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the First Quarter of the year in the books, saw equity markets exhibited strength.

Elsewhere look for Gold to continue its uptrend while Crude Oil builds on its move higher. The US Dollar Index continues to drift to the upside in consolidation while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to reverse the short term uptrend while Emerging Markets consolidate in a broad range.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts look strong, especially the SPY on both timeframes. The QQQ is showing some momentum divergence that could lead to more consolidation or a pullback while the IWM looks top step up as it breaks to 2 year highs. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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